The market revenue of pea protein market of South America currently
holds around $5.5 million in 2018. The pea protein market is expected to
grow at a rapid rate with increased consumer engagement and market
penetration in the region.

The plant protein market of South America comes third in terms of
production and export of plant protein across the globe. Brazil and
Argentina are major exporters of plant-based protein in the region.
Rising demand for allergen- and lactose-free cheap source of plant
protein has created a market for pea protein in South America. Pea
protein containing natural amino acid helps to build strong muscles and
can act as an excellent alternative to dairy supplements.

Major drivers of pea protein market in South America are rapid rise in
disposable income, growing consumption of dietary proteins and rising
influence of North American culture towards wellbeing and health. In
addition, in past few years, number of people in the region are giving
up meat-based products and switching to plant-based diet as a protein
source. Moreover, the increasing vegan preferences along with increase
in number of vegetarians in the region are driving the market of pea
protein in countries such as Brazil, Argentina and Colombia.

Brazil contributes more than 50% of pea protein market in the region,
followed by Argentina. The pea protein market of South American
continent is mainly driven by food and dietary supplement industry.
Axion Foods, A&B Ingredients and Roquette are some of the major pea
protein producers with highest market share. Major pea producers are
focusing to expand operation by setting up more manufacturing units and
investing in aggressive marketing campaign to raise the awareness about
the pea protein. Local players are looking to enter into the market in
spite of heavy competition due to huge profit margin and easy access to
export avenues.